Community Bank & Trust Waco Texas Takes Position in Iron Mountain Incorporated $IRM

Community Bank & Trust Waco Texas acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,200 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other hedge funds have also recently modified their holdings of IRM. Two Sigma Advisers LP purchased a new stake in shares of Iron Mountain in the fourth quarter worth about $809,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Iron Mountain by 23.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,874 shares of the financial services provider’s stock worth $5,453,000 after buying an additional 9,937 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Iron Mountain by 7,794.5% in the first quarter. GAMMA Investing LLC now owns 341,751 shares of the financial services provider’s stock worth $29,404,000 after buying an additional 337,422 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Iron Mountain by 4.2% in the first quarter. Rhumbline Advisers now owns 664,001 shares of the financial services provider’s stock worth $57,131,000 after buying an additional 26,795 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of Iron Mountain by 6.0% in the first quarter. Czech National Bank now owns 67,467 shares of the financial services provider’s stock worth $5,805,000 after buying an additional 3,839 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total value of $6,190,835.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,250 shares of company stock valued at $13,272,904. 1.90% of the stock is currently owned by insiders.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $101.96 on Wednesday. The business has a 50 day simple moving average of $95.46 and a two-hundred day simple moving average of $94.54. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a market capitalization of $30.11 billion, a P/E ratio of 728.34 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

Analysts Set New Price Targets

A number of brokerages have issued reports on IRM. Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target on the stock. Barclays increased their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. lowered their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, Iron Mountain has a consensus rating of “Buy” and an average target price of $116.83.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.